Aegis acquisition by Dentsu delayed by a month due to Chinese New Year
The Dentsu takeover of Aegis has been delayed by a month to allow the acquiring group the opportunity due to Chinese New Year holding up the regulatory process.
The Japanese media company Dentsu was due to complete the £3.2 billion acquisition at the end of this month (28 February), but has chosen to move the date back until 28 March before the acquisition is completed.
In order to agree the extension Dentsu has had to obtain clearance from the Ministry of Commerce of China as part of the Anti-Monopoly Law of the People’s Republic of China, a process that is likely to be held up as a result of the upcoming New Year celebrations. Aegis has agreed to ignore a clause within the Scheme which could have seen the deal halted otherwise.
The deal was agreed by Aegis shareholders last August.
It is understood that should all processes not be completed by 28 March, the deal will go through regardless.
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Dentsu Inc. is a Japanese international advertising and public relations joint stock company headquartered in Tokyo. Dentsu is currently the largest advertising...
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